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Author : Per Skedinger
Publisher :
ISBN 13 :
Total Pages : 140 pages
Book Rating : 4.:/5 (37 download)
Download or read book Essays on Wage Formation, Employment, and Unemployment written by Per Skedinger and published by . This book was released on 1992 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ahmet Yusuf Mercan
Publisher :
ISBN 13 :
Total Pages : 142 pages
Book Rating : 4.:/5 (16 download)
Download or read book Essays on Macroeconomics and Labor Markets written by Ahmet Yusuf Mercan and published by . This book was released on 2018 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Job mobility – the rate at which employed workers change their jobs without experiencing unemployment in between – plays a significant role in shaping individual level economic outcomes as well aggregate labor market dynamics. At the micro level, workers climb up the job ladder and receive wage increases by changing employers. Experimentation by way of switching jobs leads young workers into their right career paths. At the aggregate level, job mobility might improve the allocative efficiency of the labor market by facilitating the match of productive workers and firms. This dissertation sheds light on two issues pertaining to job mobility in the U.S. Chapter 1 studies the observed decline in employer-to-employer transitions in the U.S. during the last two decades, and proposes an explanation for this downward trend. Chapter 2 proposes a framework for analyzing the excess unemployment risk following a job- to-job transition and lays the groundwork for a broader future research agenda. Chapter 1 starts from the observation that employer-to-employer (E-E) transi- tions have declined in the United States during the last 20 years from a monthly rate of 2.7 percent in 1996 to 1.7 percent in 2016. In this chapter, I study the factors behind this observed decline. I document that most of the decrease in E-E transitions is accounted for by declines in matches with less than 12 months of job tenure. I attribute this decline to an increase in information about the quality of job opportunities. I then develop a search model with heterogenous matches and on-the-job search with learning about match quality. I show that the information channel can be identified from the change in the wage growth of job switchers. I estimate my model and find that workers in recent years have substantially more in- formation about matches before they are formed, turning jobs into inspection goods rather than experience goods. I find that this increase in information explains 50 to 60 percent of the decline in job mobility over the last two decades. Chapter 2 starts from the empirical finding that the risk of job loss is concen- trated in the early months of the job; after the initially high levels of unemployment risk, jobs become stable. This chapter argues that this initial excess exposure to un- employment risk renders job-to-job transitions risky. It formalizes this mechanism in a search and matching model in which job offers are “lotteries”, placing probabilities on job qualities, which are revealed early on in the new job. Workers know the prob- ability weights, and lotteries are heterogeneous in those weights. A set of job quality realizations lead workers to prefer quitting into unemployment. In this model, job mobility is affected by the value of unemployment, which represents the downside risk of accepting a job lottery. This consideration constitutes a mobility friction for employed workers. It explores all these properties and predictions in a calibrated version of the model. The chapter also highlights a new role of unemployment in- surance (UI): In the model, UI insures the downside risk of job-to-job transitions, and thereby subsidizes job mobility of workers already employed, and tilts the job composition to ex-ante riskier jobs. Chapter 2 closes by discussing potential implica- tions of this new view of unemployment insurance. The study therefore sheds light on how labor market policies affect the behavior of employed job seekers through a novel “experimentation subsidy” channel.
Author : Oswald St. Clair
Publisher : London : S. Sonnenschein & Company
ISBN 13 :
Total Pages : 248 pages
Book Rating : 4.:/5 (31 download)
Download or read book Low Wages and No Wages written by Oswald St. Clair and published by London : S. Sonnenschein & Company. This book was released on 1908 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Tal Regev (Ph. D.)
Publisher :
ISBN 13 :
Total Pages : 94 pages
Book Rating : 4.:/5 (78 download)
Download or read book Three Essays on Unemployment, Self-selection and Wage Differentials written by Tal Regev (Ph. D.) and published by . This book was released on 2006 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: (Cont.) The government's capacity to insure workers is limited by the market wage setting, which gives workers a share in the employment surplus. When the government provides higher unemployment benefits, the bargained wages increase, and unemployment rises. These equilibrium responses have a negative effect on workers' welfare if workers' bargaining power is above a certain point, which is lower than the matching elasticity. As risk aversion increases, workers' share in the wage bargain is smaller, and thus the equilibrium effects are attenuated. The constrained optimal provision of unemployment benefits is a modification of the Hosios condition for efficient unemployment insurance and highlights the roles of bargaining and risk aversion. The optimal level of insurance increases with risk aversion, with the costs of creating a vacancy and with workers' higher bargaining power.
Author : Noah Yaakov Weisberger
Publisher :
ISBN 13 :
Total Pages : 115 pages
Book Rating : 4.:/5 (249 download)
Download or read book Empirical Essays on Real Wages, Unemployment, and Labor Productivity written by Noah Yaakov Weisberger and published by . This book was released on 2002 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Vincent Monmaur
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (428 download)
Download or read book Essay Against the "employment Or Wages" Paradigm written by Vincent Monmaur and published by . This book was released on 1998 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Andreas Hauptmann
Publisher : wbv Media GmbH & Company KG
ISBN 13 : 3763941002
Total Pages : 154 pages
Book Rating : 4.7/5 (639 download)
Download or read book Essays on Wage Formation and Globalization written by Andreas Hauptmann and published by wbv Media GmbH & Company KG. This book was released on 2015-12-15 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: Warum zahlen manche Firmen nach Tarif, statt die Löhne individuell auszuhandeln? Zahlen Exportfirmen höhere Löhne als Firmen, die nicht exportieren und inwieweit wird dies von institutionellen Rahmenbedingungen bestimmt? Welche Zusammenhänge bestehen zwischen den Lohnstückkosten und der Exportstärke von Unternehmen? Mit diesen und weiteren Fragen befasst sich Andreas Hauptmann im vorliegenden Band. In mehreren Kapiteln legt der Autor dar, dass zwischen Löhnen, Globalisierung und institutionellen Kontextfaktoren vielfältige Wechselwirkungen bestehen.
Author : Joan Violet Robinson
Publisher :
ISBN 13 :
Total Pages : 190 pages
Book Rating : 4.:/5 (245 download)
Download or read book Essays in the Theory of Employment written by Joan Violet Robinson and published by . This book was released on 1953 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Bertil Holmlund
Publisher :
ISBN 13 :
Total Pages : 312 pages
Book Rating : 4.E/5 ( download)
Download or read book Pay, Productivity, and Policy written by Bertil Holmlund and published by . This book was released on 1994 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kevin William Fawcett
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (133 download)
Download or read book Wages, Worker Mobility, and the Macroeconomy written by Kevin William Fawcett and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis contains three essays on wages, worker mobility and the macroeconomy. Chapter 1 develops an equilibrium model of the labor market with on-the-job search, wage-tenure contracts, and heterogeneity in match productivity. The model predicts an inverse relationship between match productivity and post-unemployment wages where workers in high productivity matches earn a low wage initially, but experience significant wage growth over tenure. The model is considered in the context of labor market entry for young adults. Unemployment risk in the transition process reduces worker mobility and limits the ability of workers to recover from a low quality initial match. Quantitatively, workers that initially form low quality matches expect to produce 8.0% less and consume 5.2% less in their first three years in the labor market relative to workers that initially form high quality matches. Chapter 2 studies efficiency in the model developed in Chapter 1. The social planner's match formation strategy perfectly insures employed workers against unemployment risk and results in an 11.3% increase in permanent consumption relative to the competitive equilibrium. Two self-financed policies in the forms of an extension of unemployment insurance and a hiring subsidy are considered as alternative strategies to increase worker welfare. The optimal policies increase permanent consumption by 5.1% and 1.3% respectively relative to the competitive equilibrium, however both policies are associated with a decrease in average output per worker. Chapter 3, joint with Shouyong Shi, develops an equilibrium model of the labor market where workers have incomplete information about their ability. Search outcomes yield information for updating the belief about the ability, which affects optimal search decisions in the future. Firms respond to updated beliefs by altering vacancy creation and optimal wage contracts. To study equilibrium interactions between learning and search, this paper integrates learning into a search equilibrium with on-the-job search and wage-tenure contracts. The model is calibrated to quantify the extent to which learning and on-the-job search can explain empirical facts related to wage decreases in job-to-job transitions, duration dependence in unemployment, and frictional wage dispersion.
Author : Andrew Cowley Johnston
Publisher :
ISBN 13 :
Total Pages : 204 pages
Book Rating : 4.:/5 (96 download)
Download or read book Responses to Poverty written by Andrew Cowley Johnston and published by . This book was released on 2016 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Throughout my work, I seek to understand policy issues that have consequences for poverty. Data limitations and non-random assignment of policy treatment make meaningful analysis challenging in what I argue are important areas of policy; to overcome the empirical challenge I combine clean natural experiments with rich administrative data to make progress in each literature. In this collection of essays I look at policy factors for three important determinants of economic wellbeing: labor supply, human capital formation, and labor demand. (1) Regarding labor demand, my coauthor and I study the impact of unemployment insurance benefit extensions on the employment of displaced workers. Using a sharp policy change and rich administrative data I procured, we are able to make considerable progress. (2) Teacher quality is the most powerful school-input in human capital formation. To understand how teacher pay affects the quality of teachers, I leverage a federal policy that provides additional compensation to teachers serving sufficiently poor schools. Using a regression discontinuity design and rich education data, I am able to provide further light on this pressing policy issue. (3) Finally, I assess the consequences of a payroll tax that firms pay on the labor demand. Because the tax increases after recessions, workers may bear the tax when the labor market is already weak. I use a discontinuity in the tax schedule and administrative UI data to estimate the consequences of the tax as a deterrent and the effect of the tax once raised.
Author : Lucas Aurelio Navarro
Publisher :
ISBN 13 :
Total Pages : 276 pages
Book Rating : 4.:/5 (644 download)
Download or read book Essays on Equilibrium Unemployment and Wage Inequality written by Lucas Aurelio Navarro and published by . This book was released on 2005 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Till Marco Von Wachter
Publisher :
ISBN 13 :
Total Pages : 376 pages
Book Rating : 4.:/5 (34 download)
Download or read book Early Shocks, Late Options written by Till Marco Von Wachter and published by . This book was released on 2003 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Katsuhiro Komatsu
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (144 download)
Download or read book Essays on Social Insurance and Labor Markets written by Katsuhiro Komatsu and published by . This book was released on 2024 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation studies the impact of social insurance policies on labor markets and workers, with a particular emphasis on various roles of firms in labor markets. Chapter 1 studies the labor market and welfare impact of unemployment insurance (UI) systems in the presence of temporary layoffs and recalls.I first empirically document that higher UI benefit levels induce unemployment separations through temporary layoffs, exploiting differential changes in UI policies across US states over time. I then develop an equilibrium search model in which firms choose between temporary and permanent layoffs. Temporary layoffs incur costs to maintain recall options but allow for rehiring without a recruitment cost. The model is identified and estimated by utilizing quasi-experimental variation arising from UI policy changes. I then use the estimated model to evaluate the labor market and welfare impacts of UI policy changes. First, I find that taxing firms for permanent layoffs reduces unemployment by inducing a shift from permanent to temporary layoffs, facilitating faster reemployment through recalls. Despite the employment gains, the increase in temporary layoffs is associated with a slight welfare loss as these layoffs and recalls suppress the reallocation of workers to better matches. Furthermore, in the presence of endogenous temporary layoffs, extending the duration of UI benefits, rather than increasing the benefit levels, is associated with smaller labor market distortions and achieves a larger welfare gain. Chapter 2 investigates the welfare impact of reemployment bonuses in a dynamic job search model. Reemployment bonuses, monetary incentives offered to workers who obtain employment, may mitigate the moral hazard in unemployment insurance (UI) while preserving consumption smoothing. Using a sufficient statistics approach, I first show the substantial positive impact of reemployment bonuses on welfare given the current level of UI benefits. Then, by using a quantitative model of job search, consumption, and saving, I study the optimal combination of UI benefits and reemployment bonuses. I find that the optimal UI benefit level is higher when reemployment bonuses are incorporated. Compared to the welfare gain achieved by implementing only the optimal level of UI benefits, the optimal combination of UI benefits and reemployment bonuses achieves a 56 percent larger welfare gain. Chapter 3, joint with Naoki Aizawa and Hanming Fang, presents an equilibrium model of labor unions that accounts for their effects on wages and provisions of employment-based insurance benefits. We use it to quantitatively assess the equilibrium impacts of unions on labor market outcomes, as well as the forces underlying the dramatic decline in the unionization rate in the United States in the past half century. We first document that unionized firms are more likely to provide various employer-based insurance benefits; and we provide quasi-experimental evidence that the expansion of public insurance programs lowers unionization rates and union formation in the U.S. We then develop and estimate a frictional labor market model that features endogenous union formation and employer-based insurance provision. The model quantitatively accounts for the relationship between a firm's union status and its provision of employer-based insurance products. Using the model, we assess the impact of social insurance expansion and the tax/transfer programs on non-wage benefits, as well as their consequences for unionization rates and other labor market outcomes. We find that these policies can have a significant impact on wage inequality through their effects on unionization. Finally, we quantitatively explore the causes of union declines. We find that skill biased technological changes and the implementation of right-to-work laws account for about 19% and 7% of the decline, respectively. Interestingly, social insurance expansions also account for about 19% of the decline.
Author : Ipek Ilkkaracan
Publisher :
ISBN 13 :
Total Pages : 196 pages
Book Rating : 4.:/5 (587 download)
Download or read book The Role of Unemployment in Wage Determination written by Ipek Ilkkaracan and published by . This book was released on 2001 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Joan Robinson
Publisher :
ISBN 13 :
Total Pages : 190 pages
Book Rating : 4.:/5 (281 download)
Download or read book Essays in the Theory of Employment written by Joan Robinson and published by . This book was released on 1953 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 232 pages
Book Rating : 4.:/5 (919 download)
Download or read book Essays on Networks and Macroeconomics written by and published by . This book was released on 2015 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis consists of three essays related by the themes of networks and macroeconomics. The first essay examines the role of networks in workers' search for employment. Unemployed workers gain employment by sending resumes directly to employers, and indirectly through employed friends. I find that the amount of search effort a worker undertakes is related to how many employed friends it has, and whether networks are substitutes or complements in search. When search costs are linear I find that complementary networks cause those with the most friends to search, while substitutable networks cause search effort to be independent of an individual's network position. Finally, I examine the role of aggregate links on aggregate matching. The second essay examines the impact of networks on aggregate labour market variables, such as unemployment and unfilled vacancies. It is concluded that networks lead to wage heterogeneity, increased unemployment volatility, and higher autocorrelation of vacancy rates. The conclusions follow analytically using an approximation method, and quantitative magnitudes are discussed using numerical simulations. Finally, issues of network formation and multiple equilibria are addressed. The final essay analyzes the role of imitation on firm pricing decisions. A generalization of Calvo pricing is developed. It is shown that price dynamics are much different in a model with imitation. I demonstrate analytically that sticky inflation can arise. I partially characterize equilibrium prices and inflation. I finish the chapter by generalizing the network effects.
